A building permit is required to start the (re)construction of a building. The building permit application is submitted by the investor, and is to be sent to the competent construction and physical planning office in the place where the (re)construction of the building is planned.

A condominium is a building structure divided into several units that are each separately owned, surrounded by common areas that are jointly owned.

Residential condominiums are frequently constructed as apartment buildings, but there are also “detached condominiums”, which look like single-family homes, but in which the yards (gardens), corridors, building exteriors, and streets as well as any recreational facilities (like a pool or pools, bowling alley, tennis courts, golf course, etc), are jointly owned and maintained by a community association.

Unlike apartments, which are leased by their tenants, condominium units are owned outright. Additionally, the owners of the individual units also collectively own the common areas of the property, such as corridors/hallways, walkways, laundry rooms, etc

Pre- contract is a preexisting contract that legally prevents a person from making another contract of the same nature.

A geodetic survey determines the precise position of permanent points on the earth’s surface, taking into account the shape, size and curvature of the earth. Geodetic surveying techniques are applied when areas or distances involved are so great that desired accuracy and precision results cannot be obtained by ordinary or plane surveying. 

The methods for analyzing the value of a real estate investment are analogous to those used in the fundamental analysis of stocks. Because real estate investment is typically not a short-term trade, analyzing the cash flow, and the subsequent rate of return, is critical to achieving the goal of making profitable investments.

To profit, investors must know how to value real estate and make educated guesses about how much profit each will make, whether through property appreciation, rental income, or both. Accurate real estate valuations can help investors make better decisions when it comes to buying and selling properties.

If you want to rent or sell a house, you’re going to need an energy efficiency certificate.

The energy efficiency certificate or energy certificate is nothing more than an official document drafted by a competent technician.

You are required to have one when:

• You’re trying to sell a property.
• You’re trying to rent a property you own to someone else.

This certificate includes objective information on the energy characteristics of the home. It is prepared by calculating the energy consumption that each building or home needs over the course of a year, assuming normal operating conditions and use. Based on this calculation, the property receives an energy qualification with a letter.

The calculation accounts for hot water production, heating, lighting, AC and ventilation. It also considers elements such as the material for the outer walls, woodwork, what kind of windows the building has, and its AC systems.

The energy certificate is valid for 10 years. 

A down payment is a sum of money that a buyer pays in the early stages of purchasing an expensive good or service. The down payment represents a portion of the total purchase price, and the buyer will often take out a loan to finance the remainder.